M&M's arm enters into agreement to form JVC

Mahindra & Mahindra's (M&M) arm - EPC Industrie has entered into an agreement to form a Joint Venture Company (JVC) in India (NewCo) with Top Greenhouses, Israel to provide solutions for Protected Cultivation Technology Products and subscribe/acquire up to 60% of the Share Capital of the NewCo with the remaining 40% proposed to be held by Top.

The NewCo will be formed for the purpose of providing solutions to Protected Cultivation Technology Products in Agriculture. It will also strengthen the company's position in Agri technology.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

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